BE A TOP REAL ESTATE ENTRPREUNER IN 2023

By
Education & Training with Performance Development Strategies

What would you like to happen in your business in 2023? Whatever it is don’t expect it to happen by doing the same things you did in 2022. One of the biggest challenges is not starting as a solo entrepreneur but growing the business and adding people.

Michael Gerber, in his book “The E Myth Revisited”, discusses the reasons why some people fail. Some businesses may survive due to external dynamics and timing, but they will become stagnant, and the owner will feel like a hamster on a wheel. This is because there is a lack of entrepreneurial leadership.

Let’s take an example. How many restaurants were not able to withstand the challenges of the pandemic? A great cook or chef feels that because he or she understands how to create a great meal he or she would run a great restaurant. Soon after opening, the owner is usually consumed with running the business and involved in every little detail. When this crisis came the owner had to rethink, look at the big picture and make a strategic move. In our restaurant example, unless you have a food stand, you need other people. You need organization and you need leadership. If you are a great cook and this is your passion, you might be better served to work for great restaurant as the executive chef.

Likewise, if you want to build a real estate agency you will need to provide leadership and development to your team. You cannot expect new agents to hang their shingles with you and say you have an organization.

More needs to be done. Michael Gerber highlights some key points in his book. I have found that the enterprises that I have coached and consulted have had success when they have followed the following points.

1.        You need a vision for your business. Moreover, you need to keep your eye on the vision. How do you look when you are successful? What is the future of your business five to ten years from now rather than what you are doing today?

2.        Who are your customers now and in the future? What is your unique value proposition; what sets you apart from your competition? How do you get customers?

3.        How does the business work rather than the work done by the business? What processes and procedures are in place to facilitate the smooth operation of the business when the owner is not present?

4.        How does this business generate profits rather than how does the business make sales?

5.        How is the business structured to meet the needs of the customers? How does the business build loyal customers?

6.        How are the best people hired, motivated, and retained? Pay attention to this one. Things have changed in the last years.

7.        Can this business continue to grow and duplicate? In other words, is this a sustainable business?

Entrepreneur

The real secret behind all of this is not simply having a business plan although you certainly do need a business plan. The real secret is learning how to become an entrepreneurial leader. Leadership is paramount to you personally and to your team. As an entrepreneurial leader you will look at the forest instead of the trees, you will work ON your business rather than IN your business, and you will become the inspiration for your business.  For a similar post on our website see BECOME AN ENTREPRENEURIAL LEADER IN 2023.

Are you ready to become a successful entrepreneurial leader in 2023?

Contact us to learn more

Armonk NY call 914-953-4458.

South Florida call 772-342-1066.

Posted by


PDStrategies.net

Armonk, NY
Port Saint Lucie, FL

(914) 953-4458
CALL OR TEXT

Email Me

Grant Schneider,
CBC, SPHR, SHRM-SCP*

*Certified Business Coach,
Senior Professional in Human Resources

President, Founder
& Leadership Coach

About Me

 

Comments (21)

Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Grant another powerful post, I kept telling Diane now I am dealing with........ sellers.... buyers.... and lookie losers  like I dealt with in 2008.... need patience and lots of wine to deal with them..... Endre

p.s.: you can fill in the dots...:)))

Nov 27, 2022 10:18 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

John - as we step into 2023 we must re evaluate.

Endre - thanks.  A with 2008 experience you can move forward.

Nov 28, 2022 03:00 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Grant - our experiences add to our own book of knowledge.  However, that does not mean we can't find insight while observing, learning and reading the thoughts of others.  Life includes balancing all sorts of things that may be thrown in our direction.  

Nov 28, 2022 03:44 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Grant. If you are not preparing now for 2023, you have no chance of being successful. It takes time to change your thinking and implement changes and you need to start the year running not warming up! Enjoy your day.

Nov 28, 2022 04:34 AM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

This is an excellent post with great information. Thanks for sharing it.

Have a super fantastic week!
Joe Jackson, Realtor-KWCP

Nov 28, 2022 04:48 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Grant... I've always said, focus on this aspect of your business and you're at least halfway there:

 How is the business structured to meet the needs of the customers? How does the business build loyal customers?

Nov 28, 2022 05:51 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

You always give the best advice!  I am confident that anyone that hires you to consult is in good hands!

Nov 28, 2022 05:56 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

The times are changing and we have to change with them, especially with this new REal Estate market we are now seeing!

Nov 28, 2022 06:26 AM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much for sharing your experience and your advice.

Nov 28, 2022 06:44 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Grant, every once in a while I ask a client (during the transaction) if there is anything else I should be doing to make it a great transaction.    On occasion, I do get suggestions, and apply them to future clients.

Nov 28, 2022 07:25 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Grant my days of wanting to be at the top are behind me, but this is great advice for someone who is striving to be at the top.

Nov 28, 2022 11:42 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Wayne - that is certainly true if your have the same playbook as last year.

Joe - thank you.

Nina - yes, and I think that we understand how the customers have change in the last year we are halfway there.

Brian - thank you so much.

Larry and Sheila - last years playbook will not work in 2023.

Roy - Thank you.

Joan - that is perfect.  That is called continuous improvement.

George - that might be true with some us.  As long as we stay focused on the current.

Nov 29, 2022 04:57 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Adapting and adjusting is a real estate professional's tried and true direction, no matter the market, Grant. Thanks for the very focused post, it does matter to prepare for what is coming!

Nov 29, 2022 08:57 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Grant Schneider -You always have timely information for those who need it.

My key takeaway is that you shouldn't expect things to happen by doing the same things you did in 2022.  

We will see many agents who cannot adapt leave the ranks during 2023. 

I had to make many adjustments to my listings in 2022. My last home listing is closing today. 2022 was my best year ever.  I surpassed my goals.  2023 will be challenging.

Nov 29, 2022 09:58 AM
Roy Kelley
Retired - Gaithersburg, MD

Good Tuesday evening, Grant. Have a very productive week.

Nov 29, 2022 03:37 PM
Ben DeHaven
Haven Realty & Investments - Winter Haven, FL
Proudly serving Winter Haven & Lakeland, Florida

Great post Grant. I should go re read that book, it has been a while. Thanks for sharing. 

Nov 30, 2022 07:29 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Wnada - I know that the team on Active Rain are well prepared.

Sheri - those like you who make adjustments can have a great year in 2023.

Roy - it has been a productive week for me.

Ben - The book is a good one and worth a re read.

Dec 02, 2022 04:12 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Excellent post and the restaurant example is a good one. Being an excellent real estate agent does not mean one will be an excellent brokerage owner. It's all about the points above. Thanks for sharing!

Dec 03, 2022 05:26 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Kat - yes yes, that is exactly the point.

Dec 03, 2022 06:34 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Grant- while I read your post, I thought about the man I worked for who owned Talent Tree Personnel. He spoiled me for working for anyone else because he was a great boss and an even better entrepreneur. He hit on all of your points. 

Dec 03, 2022 02:48 PM